Investors Buy Synchrony Financial (SYF) on Weakness

Investors bought shares of Synchrony Financial (NYSE:SYF) on weakness during trading on Thursday. $25.88 million flowed into the stock on the tick-up and $17.64 million flowed out of the stock on the tick-down, for a money net flow of $8.24 million into the stock. Of all stocks tracked, Synchrony Financial had the 18th highest net in-flow for the day. Synchrony Financial traded down ($0.04) for the day and closed at $27.61

Several research firms have recently issued reports on SYF. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Synchrony Financial in a research note on Saturday, July 9th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Synchrony Financial in a research note on Saturday, July 9th. JMP Securities reaffirmed a “buy” rating on shares of Synchrony Financial in a research note on Saturday, July 9th. Nomura reaffirmed a “buy” rating on shares of Synchrony Financial in a research note on Saturday, July 9th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Synchrony Financial in a research note on Sunday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $40.63.

The company has a market cap of $23.02 billion and a price-to-earnings ratio of 10.54. The company has a 50 day moving average of $27.12 and a 200 day moving average of $28.27.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, equities research analysts forecast that Synchrony Financial will post $2.64 EPS for the current year.

The business also recently disclosed a special dividend, which will be paid on Thursday, August 25th. Shareholders of record on Friday, August 12th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, August 10th.

In other Synchrony Financial news, insider Brian D. Doubles sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $30.00, for a total value of $30,000.00. Following the completion of the transaction, the insider now directly owns 167,638 shares in the company, valued at approximately $5,029,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.